EVRAZ announces the signature of a five year contract with Uralvagonzavod
19 September 2012 - EVRAZ plc (LSE: EVR) has signed a five year contract with UVZ agreeing the supply of metal products. The agreement was signed in Berlin at the international “Innotrans-2012” exhibition.
The contract is valid from 2012 till 2017 and establishes mutual obligations for the purchase of metal and railway wheels. This collaboration between EVRAZ and UVZ will establish a transparent mechanism for determining the price, the formula for which will be tied to market indicators.
“EVRAZ intends to strengthen relationships with its partners through long-term contracts, and this five-year agreement with Uralvagonzavod is a sign of our commitment to that process,” said Ilya Shirokobrod, Vice-president and Head of EVRAZ’ railway products division. “EVRAZ is among the world leaders in the production of railway products, and we are sure that our products will meet the demands of our partner.”
“This strategic partnership agreement, signed by the two largest companies of Nizhniy Tagil, ensures success and prosperity of not only the city, but the region and our industry as a whole. It will lead to modernization of production facilities. We closely cooperate with each other and we are sure of mutual success,” noted Andrei Shlenskiy, Deputy Director of Uralvagonzavod, Head of the Railway Equipment Division.
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